Evaluation of flexible demand-side load-following reserves in power systems with high wind generation penetration

In this study, a two-stage stochastic programming joint energy and reserve day-ahead market structure is proposed in order to procure the required load-following reserves to tackle with wind power production uncertainty. Reserves can be procured both from generation and demand-side. Responsive aggregations of loads, as well as large industrial consumers are considered. The proposed methodology is evaluated through various simulations performed on the insular power grid of Crete, Greece.